In recent years, we’ve seen cannabis evolve from a taboo topic that nobody even wants to name in casual conversations to a revolutionary ingredient that has created products that help and heal millions of people all around the world. From pain-relieving body balms to uniquely flavored chocolates, the cannabis industry is quite literally blooming.
In fact, there are currently 70 countries with legal access to high-THC cannabis products. As billions of dollars of investment capital pour in, the cannabis industry is starting a new chapter with flying colors.
Before we peer into the future of cannabis, let us first understand why pot is growing in popularity.
Why Is Cannabis Getting Popular?
Estimates indicate that by 2025, the legal cannabis business will be worth more than $43 billion. But why is this plant gaining such a following? The following are only a handful of the many causes.
Because It’s Becoming Legalized
First and foremost, cannabis is gaining popularity because it is now legal in many states and countries. This indicates that individuals who previously refrained from using it because they feared getting into trouble are now giving it a try.
Thanks to legalization, more people can now use marijuana to cure various health issues they may have or just to see if they like it or not.
Because It Can Manage Health Symptoms
Cannabis works well to address a range of medical ailments. And when more people use cannabis and experience symptom alleviation, they’re more inclined to continue using it and recommend it to others.
People who use cannabis safely and responsibly can find that it helps with conditions like pain, nausea, anxiety, and seizures. Its popularity will grow even further as more people become aware of its potential advantages.
Because It Can Be Safer Than Other Medications
Another reason why cannabis is getting more popular is because it is seen as a safer alternative to other drugs. As cannabis studies continue, more is known about its comparative safety to other medications. This mounting evidence reassures people, and as a result, they are more willing to try cannabis.
Because Of The Shift In Public Opinion
Until recently, a lot of people had preconceived notions about cannabis users. One idea of cannabis users was as “stoners,” people who would become very calm and slow to react in social circumstances.
Another way that individuals viewed cannabis users was as possibly unable to keep a job or lacking the ambition to apply for one. But this image is gradually changing as more and more people use it responsibly.
People are now realizing that responsible cannabis users can be just like anyone else. They are capable of leading fulfilling lives as successful professionals, loving parents, and engaged citizens.
Because It’s A Great Business Opportunity
With the cannabis industry predicted to be worth billions in the coming years, more and more business-oriented people are eager to get involved. There are many ways to profit from the legal cannabis sector, including by creating one’s own business or investing in cannabis companies.
Aside from creating all kinds of cannabis consumables, by-products like hemp can also be used to manufacture a range of products. This includes things like clothing, construction supplies, and biofuels. So there are clearly several opportunities for those who desire to work in the legal cannabis market.
What Is The Future Of Cannabis?
So, what does this all mean for the future? The popularity of cannabis will only continue to grow as more states and countries legalize it and as research continues to uncover its potential benefits. This could lead to even more business opportunities in the industry and potentially create jobs and boost local economies.
The sector is also changing due to technology. Eaze, a weed delivery service, has reportedly raised $37 million and has a $300 million valuation. It recently revealed plans to provide a platform for the delivery of CBD goods to 41 states.
Another on-demand marijuana and cannabis delivery service, Dutchie, raised $3 million from venture capital companies in 2018, including those of basketball player Kevin Durant and musician Snoop Dogg, among others.
Be prepared to hear phrases like “machine learning,” “automation,” and “blockchain” spoken more frequently in connection with marijuana. Soon enough, the banking problems facing the sector will be resolved. Furthermore, there are even cannabis processing and trimming robots being created by companies like Bloom Automation.
What’s great about cannabis is that it’s recession-proof, making it even more appealing to businesses. Like alcohol, the market for cannabis products is never-ending, regardless of the state of the economy.
In fact, the legal cannabis market thrived during the COVID-caused slump, but experts were unsurprised. According to industry insiders, cannabis customers are just as dedicated to purchasing marijuana as they are to purchasing necessities like toothpaste and toilet paper.
Cannabis Is Here To Stay
Gone are the days when cannabis was regarded as a “bad” drug. The increasing popularity of cannabis is a trend that will definitely continue in the future.
Sure, there may still be concerns about its potential for abuse, but the perceived health benefits and the legalization of the drug in many countries are likely to drive its growth. The cannabis industry is likely to become a major player in the global economy and may even revolutionize the way we think about and use drugs in the future.